Pullback

FEATURED ARTICLES ABOUT PULLBACK - PAGE 2

ET Now: How are you reading the movement on the Nifty today? Ashwani Gujral: My belief is that market is kind of getting ready for a sustainable pullback. A sustainable pullback is more than an intraday pullback, probably we got a three to five-day type of period and maybe we get back and test 5800, but the trigger to get into that is probably not going to come today. If we get another gap up opening tomorrow where we see follow through to this move, that would be a better idea to enter long positions.

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about the stock market and Nifty. There is gloom and doom out there in the market. But talking about day traders, positional traders, should they think differently? Should they prepare themselves for a sharp technical bounce back? Talking about the capitulation that we saw yesterday, each time arrest starts to happen, markets get somewhere near a bottom. So maybe from here, people can assume some position on the call side because - maybe - future is too risky.

In a chat with ET Now, CK Narayan , Growth Avenues Asset Advisors, shares his views on Karnataka Bank. ET Now: What is your call on Karnataka Bank? CK Narayan: I have a buy call on Karnataka Bank , the stock has run up a bit, currently at about Rs 128. We should not really chase it at these levels but wait for a bit of a pullback. Post that denial by the management about any kind of imminent takeover etc. the stock had seen a little bit of pullback but again seems to be reasserting itself on the upside.

Ashwani Gujral , Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, gives his views on the Bank Nifty What is the call on Bank Nifty? The Bank Nifty is in some kind of a pullback. It should bottom out along with the Nifty. As the Nifty gets towards 5550, that level on Bank Nifty is probably around 10500 to about 10600. If the Bank Nifty does get to those levels, even that becomes a buy. The neckline on Bank Nifty is around 11000.

In a chat with ET Now, Mitesh Thacker , Technical Analyst, miteshthacker.com, shares his views on VIP Industries. ET Now: Is the bull market for VIP Industries now over? Mitesh Thacker: We just bought VIP. That is to begin with a disclaimer. I have been negative on consumption stocks and I was looking at VIP, a final target at around 100 mark which is the prelisted price of 500 where the stock had consolidated for a very long time.

CK Narayan, Growth Avenues Asset Advisors, in a chat with ET Now, gives strategy about the market Our biggest fears have come true, 5200 has been broken. How does a trade and in investor approach this market? We had this very strong sell off to the lower end hit about 5120-5125 levels. In terms of the price movement, in terms of the time cycles, in terms of the price cycles as well, I would feel that we are trading somewhere near the low for the moment and I would be therefore inclined to go long as a trader, let me reiterate that as a trader, not as an investor.

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on the market. Excerpt: ET Now: How would you read into the attempted pullback in the last 15 minutes from tomorrow's trade? Ashwani Gujral : It appears that there are not any great flows because the strong group which is the IT index did not really go up. ET Now: But you were making a point about the pullback today. Ashwani Gujral : The CNX IT has only moved up 10 to 15 points, and Reliance has not moved up at all. The metals, banking and the pharma sector is more attractive.

In a chat with ET Now, CK Narayan, Growth Avenues Asset Advisors, gives his call on markets. What is the call on Tata Motors? With the sharp fall that we have seen over the last few days, Tata Motors has most certainly hit some short term support zones. I see a pullback to somewhere around 875 levels at the minimum and if the stock is able to sustain that, then we may see actually a slightly better move upward which could then take it further.

Mitesh Thacker , Technical Analyst, miteshthacker.com, talks to ET Now on various stocks. What is your call on IRB Infrastructure? IRB Infra looks like a much more promising chart. While it is now close to supply levels of about 175-177 but a breakout is a good possibility on the weekly charts . This stock might actually consolidate for a couple of days before the breakout purely because of the fact that the rally had started from 120 levels to about now 175 levels but overall this chart has got the possibility of hitting levels of 192 and possibly even as high as 210. So this is a much more promising chart from current levels but I would not buy into it right now. Either I would buy above 177 which is on a breakout or probably wait for some pullback to buy into.

Ashwani Gujral , Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about textiles stocks. Arvind and SKNL do you think 4%-4.5% is pretty much the move or could there be more? Raymonds Century Textile Arvind and SKNL do you think 4%-4.5% is pretty much the move or could there be more?